Recently, the NFT market has experienced a new wave of popularity. Most experts agree that in the future it will not stop growing. In addition, the other day there was a boom in sales volumes of these tokens, breaking all previous records for the most popular NFT platform, OpenSea.
Kevin O’Leary Praises NFT Marketplace Again, Talks Huge Potential
Kevin O’Leary, President of O’Shares Investment Advisers, believes in the success of NFTs. He once again praised this sector in his last interview. He noted that in the future, this system would even outperform bitcoin, as the digital granting of property rights to existing things in the real world, such as cars, offers huge potential for the NFT industry.
In addition, Kevin O’Leary said that in the near future, we will see many changes in online authentication, insurance, and taxes, and all of this will be possible with the expansion of the NFT market and its popularization.
Bobby Ong disagrees with Kevin O’Leary’s opinion
However, such a statement was immediately criticized by the crypto community. For example, the co-founder and COO of CoinGecko, Bobby Ong, objected to this view, saying that bitcoin, even with all its importance, is still just a separate asset. At the same time, NFT is a sector in its own right, for the development of which many different cryptocurrencies are used, which, combined with its value as a technology, offers enormous potential for growth in the NFT market. This is why Bobby Ong thinks that comparing these two crypto industry products is simply incorrect and unfair to bitcoin.
It should be noted that Kevin O’Leary has always been quite controversial about bitcoin. In 2019, he pointed out that the first cryptocurrency was useless. However, he later changed his mind about this digital asset, as he pointed out the relevance of bitcoin as an effective hedge against rising inflation. Yet Kevin still gives his preference to other cryptoassets such as ether (ETH).
Additionally, O’Leary emphasized the importance of regulating the digital asset market. He noted that the use of cryptocurrency should be monitored like any other financial instrument in order to prevent money laundering and other risks that customers may be exposed to. Finally, he clarified that different countries would end up having different policies regarding cryptocurrencies, but according to Kevin, it would be important for many of them to consult with the more progressive states or jurisdictions in this regard.
Source: Crypto News Flash
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Jade Moreau
The blockchain offers so many possibilities! After NFTs and the metaverse, who knows what this technology can still offer us? This universe fascinates me and I love to read and write about it. I wish you so much fun reading me!
